What is marketing? Marketing is a process of producing, selling, and purchasing products that satisfy customers' needs and wants. If customers are impressed with the product, they will purchase it and the organization will earn money. Elements of the marketing process Market offering Product; packaging, guarantees and good quality of the product are very important because if these things are not in the product it will not be successful and will not sell.Place; this is when the product moves from the producer to the consumer and to other stores/places where the product can be sold. Promotion; communication is also one of the elements that occurs when you communicate with consumers about your product. You would convince them to buy it by telling them the benefits of the product. There are many different types of communication methods, for example; advertising and personal selling which is like giving a presentation. Prices; pricing is the last element of the marketing process that calculates how much it would cost to make the product and sets prices. Don't make the price of the product too low or too high because customers will think it lacks quality if it is too low and if it is too high customers will think it is expensive and the product will not sell much. When you produce a product you need to do research to know if the audience/customers will be interested in the product you are producing. Strategy is when you should know the strengths and weaknesses of your product. You should have an idea of what will need to be implemented. Planning is knowing where you would like to be in a few years' time Objectives Tesco's objectives are to increase market share, maximize sales, drive sales and grow and maintain number one retail... middle of the paper.. The Tesco department is constantly growing and they are the number one retailer of children's items. Tesco spent £27 million in the health and beauty department alone. Further international growth Tesco operates in 6 countries in Europe and also operates in Asia. Seven years ago Tesco's international sales were £770 million and now they are 10 times that. Threats Tesco's threats are the challenge of Asda and international expansion. Asda's challenge Since Walmart in the US bought Asda, Tesco's position in the UK has been threatened. Asda can compete with Tesco on price and quality. Asda is the third largest company in the UK market behind Tesco and Sainsbury. International ExpansionExpanding internationally is really difficult because it costs a lot of money and you are entering a new market, which is difficult because you don't know if your business will do well there.
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